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Accident Insurance: A Comprehensive Look at Workers’ Compensation

Accident insurance forms the backbone of workers’ compensation.

You’ve probably heard the term “workers comp” before and wondered what it meant. In the past, it was shorthand for workman’s compensation, but as times have changed, that phrase has as well. It’s all part of making workplace wording more gender-neutral and inclusive for everybody. Accident insurance forms the backbone of workers’ compensation since, for the most part, it helps support the worker who was injured on the job for one reason or another. However, it is important to note that several exceptions are not immediately evident. So what benefits can you leverage whenever they become necessary? Great question! 

Medical Coverage for Occupational Illnesses or Injuries 

The medical coverage provided by workers’ compensation is incredibly thorough. Workers who take advantage of it discover that all fees associated with their care will be paid for. When it comes to high-quality medical care, the costs can quickly stack up. For instance: 

  • Doctor visits;
  • Hospital treatment;
  • Nursing care;
  • Drugs and medication;
  • Diagnostic tests;
  • Physical therapy;
  • Medical equipment (namely crutches and wheelchairs)

A Variety of Disability Benefits That Offset Lost Income 

One unfortunate side effect of on-the-job injury is that the affected worker loses valuable income. That paycheck could mean the difference between paying rent on time or not being able to afford it at all – thus incurring punitive measures such as unfair late charges. There are four requisite categories of disability benefits: 

  1. Temporary total: In this scenario, the worker cannot recuperate in a short time and needs to have a few weeks away to recover. One example injury window is roughly six weeks.
  2. Temporary partial: A short-term injury disables the employee but does not stop them from working (for example, having one broken arm.)
  3. Permanent total: Permanent total coverage is extended when the worker is incapacitated to such a degree that no cure or treatment exists. This situation precludes them from being able to work again – ever. At this point, it’s a good idea to draw up a solid agreement on pension benefits.
  4. Permanent partial: This injury represents another permanent condition, such as hearing loss. Consequently, the worker won’t make as much money as they used to before sustaining the injury.  

Coverage for the Cost of Rehabilitation

Another welcome aspect of workers’ compensation is that it provides coverage for rehab as well. Many states call for vocational rehabilitation. This concession allows workers who can’t return to their old jobs to have something they can work towards, even if it is merely getting healthy again. Psychological rehabilitation is another treatment option that employers can use if their injury has to do with their mental well-being.

The Worst-Case Scenario: In Case of Death

 

Should any workers succumb to their injuries and die, workers comp also applies to their surviving family members. The immediate family members, in this regard, are considered to be the spouse, minor children, and any other dependents in their household. These benefits apply to burial costs as well. 

A Customer Testimonial 

It’s time for another customer testimonial! This time around, Lucy Ordonez of Navient chimed in about her insurance claim experience. “I worked with William Fedo, who has been so helpful in assisting me with filing my Claim. He was available to answer my questions and followed through with updates on where my claim process was. This process was definitely made easier with his guidance.” Kudos to you, William!

Get Your Voluntary, Supplemental, and Health Insurance Policies with the MWE Partnership!

Are you a business looking to provide your employees with essential voluntary benefits? If so, look no further than The MWE Partnership. When you choose The MWE Partnership, you get experienced service and comprehensive voluntary benefit options that will meet all your employees’ needs. With over 17 years of experience, The MWE Partnership is your one-stop-shop for all your supplemental benefit needs. If you are interested in finding out how The MWE Partnership can help your business, contact us today! We encourage you to like our Facebook page and follow us on Twitter and LinkedIn for all the latest voluntary benefit news!

This entry was posted on Friday, June 4th, 2021 at 9:51 am. Both comments and pings are currently closed.

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